Oracle Corporation (ORCL) Benefited From Management’s Confidence in Business Growth

ClearBridge Investments, an investment management company, released its “ClearBridge Large Cap Value Strategy” fourth quarter 2022 investor letter. A copy of the same can be downloaded here. The strategy outperformed its benchmark, the Russell 1000 Value Index, in the fourth quarter. On an absolute basis, the strategy gained from 10 of the 11 sectors in which it was invested for the quarter. The industrials and financials sectors were the leading contributors while the real estate sector detracted from performance. Overall stock selection and sector allocation contributed to the strategy’s performance on a relative basis. In addition, please check the fund’s top five holdings to know its best picks in 2022.

ClearBridge Large Cap Value Strategy highlighted stocks like Oracle Corporation (NYSE:ORCL) in the Q4 2022 investor letter. Headquartered in Austin, Texas, Oracle Corporation (NYSE:ORCL) offers software products and services worldwide. On February 22, 2023, Oracle Corporation (NYSE:ORCL) stock closed at $86.32 per share. One-month return of Oracle Corporation (NYSE:ORCL) was -3.91%, and its shares gained 15.39% of their value over the last 52 weeks. Oracle Corporation (NYSE:ORCL) has a market capitalization of $232.74 billion.

ClearBridge Large Cap Value Strategy made the following comment about Oracle Corporation (NYSE:ORCL) in its Q4 2022 investor letter:

“Within IT, Oracle Corporation (NYSE:ORCL) cloud business is gaining broader adoption as its customers continue to move targeted workloads to the cloud. The stock benefited from management expressing a high level of confidence in being able to grow the business at essentially double its historical rate over the medium term.”

Oracle Corporation (NYSE:ORCL) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 65 hedge fund portfolios held Oracle Corporation (NYSE:ORCL) at the end of the fourth quarter which was 67 in the previous quarter.

We discussed Oracle Corporation (NYSE:ORCL) in another article and shared the list of most promising future stocks to buy. In addition, please check out our hedge fund investor letters Q4 2022 page for more investor letters from hedge funds and other leading investors.

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Disclosure: None. This article is originally published at Insider Monkey.